FOR IMMEDIATE RELEASE

Release Date: July 17, 2003

Contact:

 Steve Rector
Public Affairs Director
208-331-4725
Reed Hollinshead
Media & Public Relations Officer
208-331-4858

Housing Partners to Dedicate Rexburg's Newest Multifamily Development July 21

BOISE - Homestead Hope, LLC and Idaho Housing and Finance Association, together with Key Bank and the U.S. Department of Housing and Urban Development, will celebrate the opening of Main Street Station apartments at 438 W. Main Street at 11:30 a.m. on Monday, July 21.

Main Street Station is a 68-unit, 3.25-acre development designed with family living in mind. It contains affordable and energy efficient 1-, 2- and 3-bedroom units that began taking residents May 15, and is now nearly 100 percent filled. Tours will begin immediately after a short dedication program.

The Main Street Station project was financed mainly through Housing Tax Credits and HOME funds from the Idaho Housing and Finance Association, and a lending commitment from Key Bank. The project's total cost was more than $4.3 million. Construction started in August 2002.

Designed by Wilson Architectural of Boise and constructed by Robert Saxton Associated Enterprises Inc., of Smithfield, Utah, the Main Street Station Apartment development was financed by IHFA and Key Bank. The development is owned by Homestead Hope, LLC.

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The Idaho Housing and Finance Association, a financial services and housing organization, provides funding for affordable housing in Idaho communities where they are most needed and when it is economically feasible. IHFA uses no state funds or state employees to support its operations. For more information, visit our Web site at www.ihfa.org.